The CDs are not created to work with Windows 8.1. According to the official website, the CDs work with the following Windows versions: Windows 95, Windows 98, Windows 2000, Windows ME.
The only way to make this program work is through compatibility Wizard. To do this, insert the CD in a computer with Windows 8.1. Go to Computer and right-click on the CD-ROM. Choose Explore, locate the executable file then right-click on it and use Troubleshoot Compatibility. Let Windows test the compatibility and then use Windows XP Service Pack 2 or Windows Vista. Launch the software with the given settings or change them if one Windows option is not working. Unfortunately, there is no other way to make this work.